THE OPEN

Markets open strong as the internals are as strong as I have seen them with 3,300 more winners than losers. The SPX is up 10, DJIA+68 and the NAZ +20. Of course the major market index that is doing the best is the IWM which is +1.3% to 69.3. The DJIA has 28 winners and 2 losers.

Sectors outperforming, the usual suspects, metals, oils, trannies, bios, brokers and internets. Bringing up the rear are the big caps, semis and retailers.

So Tuesday surprised us with the big selloff and I bet Thursday AM is surprising some with the ramp higher. The question, what will happen after the Fed announcement? Keep in mind that as I type, SPX is trading just 4 points away from the 200 day SMA and that level could be quite a tug of war.